Gold smuggling racket busted.
Personnel of the Commissioner’s Task Force (CTF) on Tuesday unearthed a gold smuggling racket, operating from Mumbai, with the confiscation of jewellery weighing 16.617 kg, valued at ₹5,05,98,765. Four persons — Shilpesh Jain and Jeyesh Jain of Mumbai and Manish Jain and Pankaj Jain of the city — were arrested for their alleged involvement in the racket.
The gang was allegedly selling gold without any bills and was evading tax causing huge loss to the government.
The modus operandi of the traders was to import the yellow metal illegally from Mumbai and sell the same to the bullion merchants in Guntur, Visakhapatnam, Vijayawada and other places.
The team led by CTF Assistant Commissioner of Police (ACP) G. Rajiv Kumar laid a trap and took the four persons into custody, while they were taking gold in a hotel at Governorpet.
https://www.thehindu.com/news/cities/Vijayawada/gold-smuggling-racket-busted/article25944418.ece
Related Posts
Brothers jailed for smuggling contraband shisha tobacco
Two brothers were jailed at the Old Bailey this afternoon after customs officers...
When China floods the world with illegal goods
Chinese business has been booming for close to 30 years, with the economic reform...
Patients sue clinics, distributor over falsified spinal implants
Dozens of people in the US have filed lawsuits against an equipment distributor...
Man arrested at Beitbridge border for allegedly smuggling illicit cigarettes worth R21m into SA
A 47-year-old Zimbabwean national has appeared in court after he was allegedly...